Hong Leong-led consortium secures $692 mil green loan from DBS, OCBC for Tengah’s first private mixed-use development
DBS acted as anchor lender and sole green loan consultant, providing $484 million, with the balance provided by OCBC.
Slated for launch in 2026, the Hong Leong Holdings venture will be Tengah’s very first private mixed-use non commercial project. Situated in Tengah Garden Avenue, it aims to develop a vibrant residential property development consisting of approximately 860 homes along with integrated retail facilities.
The loan, structured in accordance with globally recognised Green Loan Principles, are going to fund the project’s green infrastructure and ecological integration efforts, according to a June 3 announcement.
Tengah– Singapore’s first new Housing Board town since Punggol more than twenty years earlier– is visualized as a car-lite, environment-friendly community reaching 700ha. When fully established, it will present about 42,000 brand-new homes.
Loke Kee Yeu, Hong Leong Holdings’ overall supervisor (projects), says: “As the initial developer to commence Tengah’s maiden private green non commercial development, we strive to support and grow an eco-conscious nonpublic housing neighborhood while partnering with similar investors and sustainable financiers such as DBS and OCBC to bring economic savings and benefit homeowners in this new smart town area. With the international switch to a low-carbon economy, we are improving our role as a trusted property developer by inserting smart green practices across our building processes for a more lasting future.”
A Hong Leong Holdings-led consortium, comprising mutual project partners GuocoLandLimited and CSC Land Group, has actually obtained a $692 million green loan from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to subsidize a “nature-aligned” urban property development project in Tengah.
Chew Chong Lim, group head of realty and shipping, aviation, logistics and transportation, institutional business banking at DBS, says: “Climate transformation is increasing, and altering how we live, work and play. In this evolving landscape, including nature into urban property development is of growing importance to create more sustainable and resilient townships where people can do well and appreciate nature.”
Some nature-related features of the project consist of “native planting strategies”, “eco-friendly corridors” of layered landscaping and integrated green spaces, and “sustainable smart technologies” to minimize waste.
